Morgan Stanley hires Aftab Shahsingh from UBS to lead industrial services coverage in North America. Shahsingh brings over 15 years of experience in the industry and will join the bank later this year. The bank has been expanding its industrials practice with recent hires from Goldman Sachs and JPMorgan Chase. Despite a decrease in investment banking revenue, Morgan Stanley reported a profit that exceeded Wall Street estimates in the second quarter. CEO Ted Pick noted a rebound in capital markets activity towards the end of the quarter. CFO Sharon Yeshaya is optimistic about M&A discussions, citing companies’ strategic movements for growth.

Read more at Yahoo Finance: Morgan Stanley hires Shahsingh from UBS to head North American industrial services IB